250 Million USDC Newly Minted on Solana

According to 深潮 TechFlow, on October 29, according to monitoring by Whale Alert, USDC Treasury newly minted 250,000,000 USDC on the Solana chain at 07:04 Beijing Time today, worth approximately USD 250 million.

On-chain data from Solana shows that the transaction was executed under the multisig minting authority of the USDC token contract, and all 250 million USDC were transferred into a designated token account, with the transaction status marked as successful. In addition, Whale Alert also monitored that, around 07:19 to 07:20 Beijing Time today, approximately 417 million USDC were transferred in two transactions from Coinbase Institutional to Coinbase.

深潮 TechFlow previously reported that in the early hours and morning of October 28, USDC Treasury minted 250 million USDC twice, for 250 million USDC each time. Large stablecoin supply expansions are usually viewed as one indicator of off-exchange funds entering the market, but the specific flows of the newly minted USDC still require further tracking.

Source: 深潮 TechFlow